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Here's Where the Jobs Are for May 2023 — in One Chart
Professional and business services led job creation for the month with 64,000 new hires.
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‘I'm Not Sure History Has Ever Seen This Before': Top CEOs on What They Expect Next From the Economy
Top CEOs at the CNBC CEO Council Summit say if recession is ahead, infrastructure and Inflation Reduction Act spending will make it a unique one.
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Vice Media Files for Bankruptcy to Enable Sale to Lenders Including Soros and Fortress
Once a digital media darling, Vice Media Group on Monday filed for bankruptcy protection after years of financial troubles.
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Grocery ‘Shrinkflation' Is Worse Now ‘Than in Any Other Period in Memory,' Says Expert — 3 Ways to Avoid It
Most grocery shoppers don’t notice shrinkflation, which is why manufacturers use it so often to subtly increase the cost of food.
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Dropbox to Lay Off 500 Employees, Or About 16% of Its Workforce
Dropbox is laying off 500 employees, or about 16% of its workforce, the company said.
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Grains, Vegetables, Dairy Prices Fall on World Market, Yet Remain High at the Grocery Store
Around the world, food prices have dropped but they are persistently, painfully high in grocery stores.
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These Are the 10 Wealthiest Cities in the World—3 of Them Are in the U.S.
Henley & Partners ranked the world’s wealthiest cities based on the fastest-growing millionaire populations.
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New Jersey Halts Electric Vehicle Rebates, As Demand Remains Too High
New Jersey residents looking to buy or lease an electric vehicle won’t be able to get a government rebate — at least temporarily — because the state program is so popular that it’s already running out of money, officials said. The Charge Up New Jersey program has disbursed an estimated $35 million for the fiscal year ending this July, according…
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Fed Expects Banking Crisis to Cause a Recession This Year, Minutes Show
The Federal Reserve on Wednesday released minutes from its March 21-22 policy meeting.
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Cheaper Gas and Food Provide Some Relief as US Inflation Shows Some Signs of Easing
Grocery prices fell 0.3% in March in the first such drop in 2 1/2 years.
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Banking Turmoil Was Not a Crisis But ‘the Downside Risks Are Real,' IIF Boss Warns
The banking sector turmoil that led to the collapse of several lenders was not a systemic crisis and has now subsided, according to IIF CEO Tim Adams.
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The World's Richest 25 People Lost $200 Billion Last Year—Jeff Bezos' Net Worth Fell the Most
The world’s richest saw their wealth take a dip last year. Here’s who lost the most — and who’s still on top.
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The Job Market Is Cooling But Remains ‘Red Hot,' Economist Says. What to Expect as a Job Seeker
The labor market remains historically strong for workers, but job seekers may be wise to proceed with a bit more caution, experts say.
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2-Year Treasury Yield Rises Back Above 4%, Recovering From Bank Crisis Dip
Investors considered the outlook for the economy as fears about a widespread banking crisis eased.
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Chairman of Saudi National Bank Resigns After Credit Suisse Comments
The chairman of Saudi National Bank has resigned for “personal reasons” after his comments on Credit Suisse sent that firm’s stock cratering.
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Jerome Powell on Latest Interest Rate Hike: ‘Inflation Pressures Continue to Run High'
“The labor market remains extremely tight,” the chair of the Federal Reserve, Jerome Powell, said Wednesday. “Inflation remains well above our longer-run goal of 2%.”
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Fed Hikes Rates by a Quarter Percentage Point, Indicates Increases Are Near an End
The Federal Reserve on Wednesday released its decision on interest rates following a two-day meeting.
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US Inflation Eases But Stays High, Putting Fed in Tough Spot Amid Banking Turmoil
U.S. consumer price increases eased slightly from January to February but still pointed to an elevated inflation rate that is posing a challenge for the Federal Reserve at a delicate moment for the financial system.
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A Major Bank Failed. Here's Why It's Not 2008 Again
The financial institution best known for its relationships with high-flying world technology startups and venture capital, Silicon Valley Bank, experienced one of the oldest problems in banking — a bank run — which led to its failure on Friday.
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Silicon Valley Bank Shut Down by Regulators
Silicon Valley Bank, a major lender to tech startups, has been shut down by regulators.